China floods debt market with new bond to boost infrastructure

Chinese local governments are flooding the debt market with a new type of bond, lining up $200bn in issuance designed to fund infrastructure investment as Beijing seeks to stimulate a slowing economy. China’s parliament in March approved a quota of Rmb1.35tn ($197bn) for issuance of “special-purpose” bonds for 2018, more than the combined quotas for the previous two years …

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